Jammu and Kashmir, one of India’s most
beautiful states, lies in the extreme north of the country. Agriculture
is the mainstay of the state’s economy as 80% of the population is
depended on it.
Land area: 222,236 sq. km.
Population: 7.7 million
Capital: Srinagar
Per Capita Income: Rs 4,244
Inflation Rate: 10.8%
There are a number of new incentives to
some industries, other than tourism. J&K has the lowest power tariff
in the country and high rate of growth in generation. The law and
situation has resulted in slow development of the state. The connection
with the rest of the country, especially through railways and
telecommunications, is relatively poor. The urbanization process to has
been slow.
Incentives:
- 5-year Central tax holiday for all new industrial units in the
state
- 30% capital investment subsidy (up to Rs 3,000,000) for all new
industrial units in the state
- Outright investment subsidy of Rs 6,000,000 for new units
investing Rs 25 crore or more
- 5% rebate (up to Rs 1,000,000 per year) on interest on working
capital loans for new units
- 60% subsidy (up to Rs 50,000) on insurance of new projects in the
Category B area
- Sales tax exemption until March 31, 2000 for small-scale units
- 50% rebate on the cost of training managers and executives in the
tourism industry
- Stamp duty exemption on mortgage deeds in favor of state
FIs/scheduled commercial banks
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